If we look at the weekly chart of Bitcoin, you will notice that before the previous bull run, it had prepared its base. When it broke out from that base, you would have an idea. If you understand the Elliott Waves theory, you will see a complete 5-wave pattern, followed by an A, B, C correction. After Bitcoin completed the same Elliott Waves, you would see another base that Bitcoin broke in 2023. Currently, we are in the middle of the 4th wave, and the 5th wave is yet to come. The 5 waves could potentially cross $100k, followed by an A, B, C correction. Currently, we are in the 4th wave, which does not indicate a bullish scenario.
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This isn’t financial advice.
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